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20121205
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CNBC
Dec 5, 2012 11:00pm EST
there, and i feel terrible at the layoffs. i've got a ton of friends over at citi, but i would be happy if i were a shareholder. the stock went up on the news. never easy to change your mind. something we're asking of our politicians, they can't do that. but citigroup's management was willing to take the hard medicine for the shareholders. we hear endless negativity about china and europe, but the chinese market last night, it was a gigantic move signifying what might be the beginning of a new growth phase. have you checked european stocks lately? smoke show. hey, even i can get too gloomy. i've been critical of bank of america for its unfathomable top dollar acquisitions, including the ill-timed merrill lynch purchase and the ridiculous countrywide buy. i've chided these guys as being one gigantic law firm with a bank attached. that's how much their earnings have been dependent upon legal obligations. and that's what cuts them. bank of america led the dow today, broke out above $10. a level hasn't been seen in ages as the unsold homes dwindles, i think it probably goes higher. he
CNBC
Dec 5, 2012 1:00pm EST
lost its mojo or does the company still have room to run? >>> and city, the big slash. knife coming down on 1,000 jobs. the cfo is set to speak about the shake-up right now and we will have the very latest on this very widely held stock which has been moving higher tod today. >>> we have a rally on our hands despite some downward pressure in apple. two of the biggest names in the most widely held stocks around, citi and apple topping the news this hour. headlines aren't good. apple right now is down about 4%. back in bear market territory, down 22% from their historic intraday high of $705 set back in september. right now shares are trading at $551.33. bob pisani joins me on the floor of the nyse. it started with this idc report citing the fact that they would lose their dominance in the tablet market in probably the next couple of years, and then the margin requirement story. >> it is a little complicated. i just want to address this issue first of the rally that we've got because i think that is sort of what's moving the overall market. there is some vague talk in washington that
CNBC
Dec 5, 2012 2:00pm EST
. the company's making bold moves. in early october it announced a deal to buy bp's massive texas city refinery and it launched a master limited partnership to boost its pipeline business. let's bring in gary hemminger, marathon petroleum president and ceo. gary, thanks for joining us. congrats on what's been a big year. i want to ask you first before we get into the other stuff about oil prices. the spread between wti and brent has really kind of gone crazy the last couple of years. does that help you guys? >> well, brian, we think that's really the catalyst of our earnings. if you look at the wti/brent spread and really look at where this crude is coming from in the u.s., from the barnett, to the eagleford, to the permeon, and now to the utica in ohio where our home base is, you look at all the different production coming on in the u.s. as this production is trying to find a home, it's certainly widening those spreads. >> so where do you see it going then? >> that's a great question. it is a great question as we look at the business going forward here. i think one of the key question
CNBC
Dec 11, 2012 6:00pm EST
the stores had to be shut down for days. including the flag ship store in new york city. let's check in with the chairman and ceo of sacks. the stores have good values. welcome back to "mad money." you said people shop the sacks depending on how they feel about their net worth. that is what is looming out there. in terms of an over hang in the market. >> the whole 1% that changed the tax code. nearly as important as what they feel like in terms of their psyche. >> absolutely. i think that one of the rates goes up and how does it react to getting some form of an agreement. i think that our customer can adapt to an agreement. >> let's talk about hurricane sandy. you were very, you know, wow, it was tough to talk about hurricane sandy. terrible loss of life. right after this, deutsche bank met with you and said despite sandy, things are pretty good. well look, i think there is the over hang in the environment. sandy was a punch to the stomach. people weren't shopping online because there was no electricity. at the time of the conference call we saw an uptick in the business. we sa
CNBC
Dec 5, 2012 6:00am EST
surprise me anymore. you could get sarah jessica parker. i don't know. take your pick. "sex & the city." >> yeah. and you've got me. is that okay? >> kate might be having twins. yeah, go ahead. >> we're getting down to the flat line at the moment. we had a bit of a bounce this morning. european stocks yesterday very flat indeed. about as flat as the pancakes i make. take a look at the european board. we're down just up eight points. the ibex actually down five. very disappointing retail sales out of the eurozone for the month of october. follows a shop revision downwards as well for september. so austerity really biting in. despite some better data out -- well, i say better. the services pmi final print for the eurozone came in up better than expected, but it's still deeply in contraction territory. so we're firmly in recession here in the eurozone and in the uk as well. we saw services pmi come in weaker than expected. contraction territory for new orders -- this is the british chancellor today. george osbourne will be delivering his autumn statement where he's probably going to say g
CNBC
Dec 7, 2012 6:00am EST
showers parts of the southeast coast. nation's midsection, some snow showers in the twin city, dallas looking beautiful with 72 degrees. out west, looks like all of the moisture will be limited to parts of the made civic northwest. high mountain, cascades. snow could be over a foot 7,000 feet and up. ski country, fantastic. so that's certainly the good news in that part of the world. in term of your air travel, backups are possible in chicago. rain is the issue. low clouds, too, limiting visibility. but minneapolis, new york, miami, miami is misspelled. i'll stand in front of that. miami and seattle, you can see just minor delays there. let's send it back to you. >> good job, reynolds blocking maimi. >> if you could talk to someone about snow in the rocky, would you? >> are you going up? >> eventually. >> steamboat springs will see over a foot of snow between now and sunday. >> that's good start. but we didn't know anything about january or february? >> not yet. >> if you get a chance to hit those maps to move stuff over the rocky, if you could. >> we'll do what we can. >> in
CNBC
Dec 5, 2012 7:00pm EST
president obama he should bail out detroit bankrupt city government, too. this sure isn't the free market, and i asked why should a texas taxpayer bail out detroit? >>> breaking news from syria, and it is a blockbuster. the assad regime is walking and loading its chemical weapons, ready to use them on its own people. nbc's chief pentagon correspondent joins us now. jim, is this the red line president obama was warning about? >> well, not quite yet. u.s. officials tell us that the syrian military is poised to use chemical weapons against their own people, and all it would take really is the final order from syrian president assad. but we have learned that as of today, all the precursored chemicals for that deadly nerve gas have in fact now been loaded on to aerial bombs, but those bombs are still in the depots. they haven't been loaded on to airplanes yet, and president assad hasn't given the order. but they're pretty close, larry, and that's why earlier this week, of course, president obama issued a very strong statement aimed at president assad saying look, if you use these weapon
CNBC
Dec 5, 2012 3:00pm EST
underweight financials. we've moved to more of a neutral weight. citi is one of the names we're overweight. it's a shame for the folks who have lost their job, but it's a nice move today. >> 7.5%. bank of america, 6%. thanks, guys. >> thank you very much. see you later. as a matter of fact, the financials are leading us higher. we're near the highs of the session right now with about 50 minutes left. the dow up 124 points. >> pretty good move. if you can own only one stock in 2013, which one would make you the most money? top fund managers were asked that question. we have their answers. we have names coming up. stay with us. >> get pencil to paper. >>> also ahead, the art of negotiation. we're going to hear from somebody who says a deal on the fiscal cliff could have already been reached if only lawmakers took a page out of wall street's deal making strategy of keeping things behind closed doors. where have we heard that before? >>> plus, secretary tim geithner with us exclusively. will the white house let our economy go over the fiscal cliff if a deal on higher tax rates for t
CNBC
Dec 6, 2012 4:00am EST
rose city. we'll speak to a moody's analyst that says high duration credit could be badly exposed. the european central bank is announcing either monetary policy decisions later today. economists expect ecb to stay pat on rates. its revised down its forecasts in 2013. hot on the heels from her stint in brusselss, silvia has moved back to frankfurt and the ecb headquarters. how more pessimistic might they be today in their forecasts. >> that's the big question. if they get too clee to the zero for the forecast next year, anything below let's say 0.4, 0.3 would be considered a little bit more bearish and that would of course increase the chances or risks whatever you want to look at it for further rate cut somewhere down the pike early next year, maybe january or february. the consensus for today is as you said no change on rates. remember a month ago, there were many calling for rate cut this month, but that seems to have receded right now. maybe also because the data we see out of the eurozone is rather mixed. everybody quite agrees that foirlt quarter is probably pretty glum, but cons
CNBC
Dec 12, 2012 9:00am EST
that valuable. >> it's not practical for a new york city dweller, for instance. >> when you get houses, you see the mexican properties? i'm saying they're going up there. >> oh, really? >> yeah. if anybody wants one. >> available for weekend rental. >> semiautomatic weapon included. >> somebody stole it from me, he thought i was going to stop there, and let hem get away with it, and that's not really my style. >> would you kidnap jim cramer, david? i'm not sure. >> no. >> it would end there. >> it never ends. >> if the guy had done nothing, i would have said fib. but i found him -- no one has seen "taken 2." >> how could you not? what a great franchise. >> i know. >> she's been taken. >> really bad luck. >> when we come back, apple tv, microsoft surface tablets, we'll bring you the latest development regarding both of those. more from the deal book conference in manhattan, including an exclusive with lloyd feinstein. 11:00 a.m. eastern time. hanging on to gains. at the nyse, when we return. can i help you? i heard you guys can ship ground for less than the ups store. that's righ
CNBC
Dec 7, 2012 12:00pm EST
better than others. city is, but they also have the diverse i have indication of the international story and that makes it attractive. >>> special defrom d.r. horton today. >> this is like watching reruns of "the brady bunch". there can't be anything more boring than these stories. it's old news. no reason to do anything on the stock except maybe you want to sell it. what if they need the cash next year. not them necessarily but the other companies who paid it out. i don't think it's great strategy. >> take a look at gold as well. initially selling off on this morning's jobs data. i think that gold, doc, is still down about 5% or so on the week, right? >> right. and part of this has to be, of course, the numbers that we've been reporting about paulson, we here at the networks at cnb have been reporting about the paulson fund, which unfortunately people have been front-running him, which, in their purview, they can do that. they think he's getting liquidations and he's probably taking some pain because of that. people have been trading ahead of that. i still strayed on the range. 16
CNBC
Dec 13, 2012 9:00am EST
are talking about solar city, known for solar panels, musk, who is the company's chairman and ceo, lyndon life, will join us this hour. nship. together for your future. ♪ >>> google maps returned to apple's i phone and ipad. google maps replaced the default application with its own app but that was a target of widespread criticism. the google maps available as a download from apple's itunes store. so it is available as a download. i mean, does this change anything, jim? >> google is huge. >> yeah it s >> apple -- are we really trading on every little review now? oh, wow, google maps. there is a un -- really an unreality about these stocks. they should not trade on whether google maps is sudden lynn better than apple maps, should be trading on profits, earnings. google missed last time, apple missed twice. maybe apple doing better. we look at the review and say i got to take out some google. it is not going to drive google's earnings, if you -- display ad does drive google's earnings but nothing to do with display ads, sit there and think maybe am, people will buy it, maybe not,
CNBC
Dec 13, 2012 12:00pm EST
we're seeing is high-end demand in shanghai, beijing and other very developed cities is not as strong as it used to be, but it still continues to be very strong. but the demand in tier two and three cities continues to be extremely strong and fueling a lot of the growth we have in asia. >> do you have a feeling that you'll have a pretty good holiday season? >> so far the numbers seem to be pretty good. you know, there's talk about the last ten days. last ten days is a very important part of the success of the season. and i think everything we're seeing is, we've got great confidence for the last ten days. >> why do you think the stock has underperformed the overall market slightly? it's been a tremendous gainer over the last five years. it's up more than 170%, but this year it's up 7%, which is obviously nothing to sneeze at, but if you take a look at what the s&p 500, for example, has done, it has trailed a bit. >> you know, quite honestly, i'm in the business of selling a lot of lipsticks, fragrance and great skin care products. and the reasons why people enter and buy our stock are
CNBC
Dec 10, 2012 2:00pm EST
. let's get on the dsk settlement. jackie at hq, what are we learning? >> a in, city judge approved a settlement in the civil case against dominique strauss-kahn. details are confidential. the accuser's lawsuit again the new york post has also been settled. we will bring you more as soon as we have it. thank you. back to you. >> thank you, jackie. >>> up next, is the apple growth story over? >> and sale fail. why does jc penney keep changing its strategy? ♪ [ male announcer ] 'tis the season to discover the kid in all of us. enjoy free shipping and great values on your holiday shopping from l.l. bean. enjoy free shipping and great values sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah, you're the king of the jungle. have you thought about going vegan carl? hahaha!! you know folks who save hundreds of dollars by switching to geico sure are happy. how happy are they jimmy? happier than antelope with night-vision goggles. nic
CNBC
Dec 6, 2012 9:00am EST
they get ready to break grouped on three new locations here in the city. he'll join us live next. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. it's no wonder so many investors are saying... wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobod
CNBC
Dec 7, 2012 6:00pm EST
. rob in new jersey. >> caller: hi, jim. a sexy boo-yah to you from new york city. i love you and everything that you do on your show, and i subscribe to everything you have. >> yes! thank you! >> caller: you're welcome. a few months ago you mentioned merrimack pharmaceutical, mrck, as a good biotech stock. i'm in at age 50. what is your opinion -- >> i think you have to buy more. i feel very good about that. remember, these specs don't necessarily pan out, but i do believe in merrimack, and i would urge you to stick with it. i'm going to rick in kentucky. rick. >> caller: rick in louisville, kentucky, home of the kentucky derby. race horse boo-yah. >> sweet. >> caller: my question is a retail company opened up location close to me. i think it's the best location in the city called cabela's. and to me that store is like a disneyland for grown-ups. >> i totally agree with you. unfortunately, they've had a spate of warm weather weather. it's a cold weather stock. as they told you in the conference call. but i do think cabela's is terrific. it may not explode yet but i think cabela i
CNBC
Dec 13, 2012 1:00pm EST
west cracks and closure of the carson city refinely acquisition. the west cracks. >> you know, let's not talk about that. >> 89% higher. what do you think of this? >> i think it will rally with oil commodity prices. i think it is a positive stock. i agree. >> you like that. let's move on to goldman sachs. upgrading yum brands. goldman noting quote that recent soft china same store sales and resulting uncertainty provide a good entry point, shares of yum down more than 6%. >> inflexion point. doesn't that say it somewhere? >> inflexion? >> china, inflexion point. >> they need antibiotics. >> no, not that kind pf. >> oh, not that kind of one. >> so the stock will move based on increasing internal consumption. >> so you like the upgrade? >> i like the upgrade. >> jason is upgrading vera bradley. nice bags. very nice. we expect top line and continue that margin are are at a positive inflexion point. >> forget the inflexion point on this one. >> i think is concerning stock for me. they have been guiding revenue on see things down. they have a problem with inventory. i'm not a fan of this
CNBC
Dec 12, 2012 1:00pm EST
opportunities for tomorrow a conference in new york city and so is our kayla. >> hi, sue. a slate of heavy hitters throughout the morning. and the day is only half way over. well tell you what they said about the fiscal cliff and innovation coming up after the break. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. [ male announcer ] when it comes to the financial obstacles military families face, we understand. at usaa, we know military life is different. we've been there. that's why every bit of financial advice we offer is geared specifically to current and former military members and their families. [ laughs ] dad! dad! [ applause ] ♪ [ male announcer ] life brings obstacles. usaa brings advice. call or visit us online. we're ready to help. [ male announcer ] how could a luminous protein in jellyfish, impact l
CNBC
Dec 6, 2012 5:00pm EST
. >>> live from the nasdaq market site in new york city's time square, i'm melissa lee. here are tonight's top three trades. solving the apple mystery. want to know what's behind apple's troubles this week? we here at "fast" have gotten to the bottom of the selloff. we'll tell you what it means. plus, freeport fizzles. the fine print on why the company's two big buys are raising big red flags. >>> and nat gas revolution, the government says exporting nat gas could be a game changer for america's economy, but at what cost? we'll take a deeper dive to find some answers. but first, our top story tonight. >>> everyone cares about the fiscal cliff, except, seemingly, the markets. just 25 days until the year end deadline and still no deal out of washington. still stocks quietly climb higher. the dow closing today at a one-month high. what gives? just an assumption that a deal -- >> it almost gets back to that you never short. we're all waiting for some type of closure on the fiscal cliff. so everyone's afraid to take that stab in the dark and say, you know what? things look terrible. n
CNBC
Dec 10, 2012 6:00am EST
. >>> welcome back, everybody. take a look. 234 our headlights this morning, new york city mayor michael bloomberg is considering whether to make a bid for the "new york times." the ft's publisher is about to lose two of its top executives, raising speculation that the newspaper could be up for sale. eric fisher joins us from the weather channel this morning and, eric, it was not cool out here today, but i did see a lot of rain. is that around the country, as well? >> it is. we're watching winter storm caesar. this is what it left behind. blizzard conditions around south carolina and north dakota. over in minnesota, we have anywhere from 8 to 17 inch snowfall totals. a lot of cold air behind the system. eventually that will get over towards the eastern seaboard. 12 in minneapolis. 8 and below in international falls. you get over towards chicago and into des moines, st. louis, gusty winds bringing those windchills way down. winter finally showed up here across the upper midwest. here in the northeast, there's the rain we were talking about around boston. a little bit of a break this morni
CNBC
Dec 11, 2012 4:00am EST
. don't miss that interview. back over to you. >> now joining us more is alesandro kintori from citi. thanks so much for your time. it's remarkable, italian bonds have apparently returned almost 20% this year. what happens with rates now? >> i think now we have to wash out a little bit of a lazy, late long enter into the market not because of fundamentals, but because they were running behind benchmarks. i think the shaping in the italian yield curve is an indicator of this. and this actually confirms our thought in the three years that needs to be corrected a little bit. >> we're hearing from investors expressing concerns about berlusconi's return to politics, if not to government at least to the campaign season. bill blain saying it's going to -- you know, the exit of monti would expose the hollow sham that italian politics really is. you're italian yourself. what's the feeling as to whether or not the country is susceptible to what berlusconi may offer in terms of campaign rhetoric and essentially taking the country in a different direction? >> well, it's entirely up to the popula
CNBC
Dec 11, 2012 9:00am EST
, located in new york city. i'm annoyed. i'm annoyed with the fiscal cliff. we're looking at not knowing what's going to happen. we fall off this cliff, and everyone gets affected. there's no trickle-down effect, it's more like a slush. we will lose income. the question is, housm income are we going to lose. if we fall off the cliff, the fear is that we fall off the cliff. not slowly glide down the cliff. big government at this point needs to understand that we should be able to trust you to do the right thing. put politics aside. think about us, the people. that's why we have government. fix it. >> all right. we're looking at a triple-digit gain here on the dow at this hour. up 109 points, a game of 13 points there. the nasdaq really the outperformer up by 1.one and a third points. andy lapierre is managing director with the group. what happens in the next few days will determine whether or not we have a year-end rally. >> we're having a rally already, melissa. absolutely. the market -- the next few days will determine whether the market is correct in its willing suspension of d
CNBC
Dec 7, 2012 4:00pm EST
financing. good luck to you on that. in terms of who did it best this week, citi up 10% on slashing 11,000 jobs. the morality of it, i feel sorry for people losing their jobs, but this is one of those stories where i guess a little bit of austerity was rewarded because at some point, everybody's got to pay the piper. >> you would think so. ralph, quantify your bullishness for us, if you can. a lot of houses on the street putting out their forecast for 2013 have been pretty bullish. they see this market as undervalued. they feel once we get the fiscal cliff out of the way that the market will be able to, you know, some of the cash comes back. what does that mean to you if you're bullish as well or ecstatic, as you said. >> in terms of the dow, i'm looking out about six months or so, into the first half of the year. i think that will be the bulk of the move. i think the dow could easily get to 15,000. >> in six months? >> yeah. >> okay. s&p? >> s&p is around, what, 1500. >> it's at 1416 today. >> yeah. >> 1418. >> a little over 1600. >> and is this the beginning of a new secular trend
CNBC
Dec 9, 2012 11:00pm EST
avenue in the city, all of which are the accoutrements of great wealth. but it wasn't an extraordinary lifestyle. >> safer: how much does all that total? >> according to the government, it's over $50 million. >> safer: just a drop in an oversized bucket, nothing close to what investors lost. so picard and his team continued to follow the money. they started here. so this was the scene of the crime... madoff's new york offices, an impressive landscape of emptiness. >> his desk was here... >> safer: and close by, perhaps a work of art that sums up the entire story. >> it's called the soft screw. and it was about 4--i guess 4 to 6 feet high, and it was sitting right here. >> safer: and sitting on top of the world was madoff himself. >> he was much like the wizard of oz, just hiding behind this wall. and no one could quite penetrate it, but they sort of really liked the results. (watch ticking) >> stahl: coming up, an unexpected twist in the hunt for the madoff investors' missing money. >> safer: most people assume that everyone lost money. >> we've found that there have been quite a few p
CNBC
Dec 10, 2012 4:00pm EST
] citi turns 200 this year. in that time there've been some good days. and some difficult ones. but, through it all, we've persevered, supporting some of the biggest ideas in modern history. so why should our anniversary matter to you? because for 200 years, we've been helping ideas move from ambition to achievement. and the next great idea could be yours. ♪ and the next great idea could be yours. those little things for you, life's about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include heada
CNBC
Dec 5, 2012 4:00pm EST
. citi with that announcement they were cutting their costs. today one of the big gainers. that set off a rally in financials. bank of america closing about $10 for the first time in 17 months. >> all right, bertha. thanks so much. hopes running high for pandora media, meanwhile. >> the radio advertising market alone that we're just beginning to scratch the surface of is a $15 billion plus market. we're a leader in mobile, which is set to become another $15 billion plus market. >> we're going to hear more from the radio company ceo. >>> later, our panel of wall street pros will tell you what you need to know about tomorrow morning's market in a full minute and a half. you'll want to know what's going to move money around tomorrow. can't afford to miss it. stick around on "closing bell." or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one series from brother. easy to use. it's the ultimate combination of speed, small size, and l
CNBC
Dec 6, 2012 6:00am EST
%. citigroup gained ground on its announcements of job cuts. talking about laying off 11,000 people. citi's news lifting the banking sectoroff all. "wall street journal" suggests the new ceo still needs to set the a new path for the bank to follow and argues corbat is unlikely to get anything close to 100% approval rating especially if he chooses to postpone returning money to shareholders. >> there was a lot of different cross currents from what people were hearing yesterday in washington. market well above 100. >> ended up 85 for the day. >> i guess the demise of john boehner as speaker was greatly exaggerated. did you see this "new york times" piece? more support for boehner now than anytime in his speaker ship. is that's setting up for -- >> but it is social media and twitter allows to you see these things. >> sausage factory into the front of the kitchen. >> exactly. >> geithner didn't use the word marginal rates had to go up, just said rates. >> rates are already going up. there will be a tax increase to people making more than 250 anyway because of the health care law. so the idea th
CNBC
Dec 5, 2012 12:00pm EST
can go up. henry blodgett joins us from new york city. good to see you as always. >> thanks for having me. >> and obviously this is a stock that people have tremendous profits in, so to the extend they want to take advantage of lower capital gains, that makes more sense. more fundamentally, they're in sort of a product hold here. they bakley came out with everything in the last few months, we're going to go through this period where they probably won't have anything exciting to announce for a while, now the television has been delayed unit next fall, according to gene muenster. then growth is slowing, and more importantly the margin is likely to compress. that's the big thing that worries me. they're going to go to a lower marge margin of mix products. it's hard to see stocks rise in the face of a compressing market. you have downside protection unless the thing completely falls apart. so i think the valuation is actually help 68 here. >> if apple has a disappointing season, where does the stock go? >> i don't know. i think it would certainly go down. the iphone numbers have been creep
CNBC
Dec 4, 2012 11:00pm EST
from the ceo of citi national bank. find out if you should be making a deposit. all coming up on "mad money." >>> don't miss a second of "mad money." follow@jimcramer on twitter. have a question, tweet cramer, #madtweets. give us a call at 1-800-743-thchlt. >> announcer:. miss something? head to "mad money".cnbc.com. >>> with the fiscal cliff looming less than a month away you might think certainly sectors would be getting hammered right now. not the obvious ones like defense. given the defense budget will be cut dramatically if our leaders don't reach a compromise, take retail. if we go over the cliff, something i've been telling you as of this week, more likely by the day, not less, that will deal a huge blow it purchasing power of most americans. think about it. tax rates go up. >> boo. >> the payroll tax holiday goes away. [ buzzer ] unemployment benefits expire for most people -- [ baby crying ] and that's is not even accounting for the layoffs. that's just being cautious. put it together, unless we get a deal, which won't be bad news for the single biggest consumer play out
CNBC
Dec 5, 2012 9:00am EST
citi by the new ceo. he has a quote in here saying these actions are logical next steps in citi's transformation and says they're committed to strategy that continues to leverage in the global banking market. if you go through the list of where these jobs are actually coming from, institutional clients group which is investment banking a quarter of the job cuts are going to come from there. my 2013 predictions i said that group would slim down by half. interesting that they are cutting a big chunk of that group. global consumer banking is responsible for 35% of the cuts and then going on through the other business lines like citi holdings, those are responsible for smaller portion of those jobs. citi getting smaller. a billion dollars going to be the pretax charge in the fourth quarter of next year. 11,000 jobs a big move from the new ceo over there. carl? >> all right. thank you very much, kayla. we're reading through the release right now ourselves. big strategic move. >> how many people work at this bank? i feel like they've been firing forever. citi did nothing after that grea
CNBC
Dec 7, 2012 7:00pm EST
me if i'm wrong. about 11,000 detroit city workers and mayor bing is cutting 4 to 500. i'm not impressed with that. i think he should be cutting 20% of the workforce, not 5%. >> no, you're absolutely right, larry. the problem is they're still playing catch up. year after year they're like we got to run to catch up with it instead of coming out and getting in front of it. the city has shrunk in population. it makes sense. we have to shrink all those government workers. it's not that we don't want certain services, it's just what you have to do. we do it in our personal life or are supposed to. >> those unions don't want it. we saw the clip when this story first came up that gal on the city council said detroit delivered for barack obama in the election, he should now bring home the bacon for detroit. the unions don't want it. the media don't want it. i'm not sure if dave bing who was a great basketball player, maybe not such a hot mayor. this thing has to go under a financial control board, doc. you know that. they're incapable of governing themselves in detroit. >> the problem
CNBC
Dec 11, 2012 1:00pm EST
airlines, you'll be able to use them once this deal goes through. new york city to heathrow flight, will there be changes, perhaps after the deal is approved. richard anderson told us ultimately about increasing the number of flights into heathrow. >> it's really about the access to the uk/u.s. marketplace. it's by far by 200% the largest market between europe and the u.s. and delta has had an 8% market share, fifth place. with this transaction we get to second place with a quarter of the market. >> that's a huge increase for delta. what about for virgin atlantic and richard branson, the ceo. well, the brand remains. remember, there's been some speculation that delta would take over virgin atlantic. not going to happen. ceo richard branson will be staying in charge. he was part of the announcement today here in new york city by satellite coming from down in the dominican. as we look at shares of delta, take a look at this. stock up, a nice gain today, almost 7%. tyler, in the end, what we're going to see is more of these types of deals in the industry, as you see the domestic u.s. carrie
CNBC
Dec 12, 2012 6:00pm EST
have the ceo of tomorrow's ipo solar city, then back here at 5:00 >>> i'm jim cramer and welcome to my world. >> you need to get in the game. >> he's nuts! they're nuts! they know nothing! >> i always like to say there's a bull market somewhere. "mad money." you can't afford to miss it. i'm cramer. welcome to "mad money." my job is not just to entertain but i'm trying to teachary and coach you. call me at 1-800-743-cnbc. you can blame the democrats for their inability to offer any cuts for spending. you can blame the republicans for not even wanting to consider tax increases. but don't you dear blame ben bernanke for not being willing to take bold action to get this economy hiring and moving again! even if his statements about economic weakness ultimately caused the averages to stumble from some pretty lofty levels. dow only declining ability 3 points s & p inching up 4.4%. close in positive territory. nasdaq giving up 2.8%. >> when you look at what ben bernanke did ntoday -- the republicans themselves refuse to get specific on spending until they see something from the white house.
CNBC
Dec 5, 2012 4:00am EST
government motorcade was driving through. this happens all the time in chinese cities and it's not just for the very top officials. this last one, newspapers in china often have the faces of leaders on the front, no matter how mundane the story. the latest reforms want more real content. all of these reforms, they have a common objective. she wants the government to regain the public's trust. back to you. >> the new leadership also set some key economic priorities, which had a big impact throughout asia today. sixuan has the details. hi, sixuan. >> hi, thanks, ross. some call it a shanghai surprise. mainland markets staged a strong rebound. this called for economic stability by boosting domestic demand, keeping property curbs. the shanghai composite jumped nearly 3%. the ipo pipeline may be on hold. financials, commodities and infrastructure are among the top gainers today as investors take advantage of cheap valuations. the hang seng followed suit and declined to a 16-month high. insurance surged 5% after hsbc explored a stake group. the nikkei closed at a seven-month high. shares
CNBC
Dec 11, 2012 4:00pm EST
announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. additional treasury buying. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >>> welcome back. we have breaking news on the fiscal cliff negotiations. eamon? >> we have a statement from john boehner's office. they're saying that they have made a counter proposal now to the white house. let me read you the statement. they say, we sent the white house a counter offer that would achieve tax and entitlement reform to solve our looming debt crisis and create more american jobs. this from the speaker's office. they are also saying that their offer now today was in response to a new offer from the white house. we know that the ap is also reporting that at least part
CNBC
Dec 12, 2012 6:00am EST
, sunday, this could be a good-looking forecast. maybe some snow here. looks like rain down the city toward washington, d.c. too warm for snow out of this one. stay tuned. next wednesday, guys, could be talking about a nor'easter, it's been a while since we've seen one of those. >> oh, no. >> just want snow. it's not -- correct me if i'm wrong because i've been wrong, it's not winter yet, is it? i'm afraid to say how many days it is because i'll mess up the math. it's not winter yet. we -- >> it's technical. in weather world, winter starts on december 1. >> wally world? >> meteorological winter. weather world. not clark griswald. >> december 1? it is winter. >> according to the sun the start of winter is december 21. also the end of the world. maybe we won't see weather. >> that's right. that's right. it is. you know, the -- the vatican says the world is not -- i'm going to go with the vatican on this. >> as opposed to the mayans. >> yeah. >> pagans versus -- >> yeah. >> i think that's fair. i expect being here on the 22nd -- >> like the fiscal cliff. if you can't be an optimist, you
CNBC
Dec 5, 2012 5:00pm EST
from the nasdaq market site at new york city, time scare, it's melissa lee. geithner and the fiscal cliff. is he pushing us closer to or farther from the fiscal cliff. and doubling down on dividends. we've got an out of the box ets flight that can get you in on the pay day windfall that's taking shareholders by storm. plus, linked-in gets original. the executive editor will reveal why the company's move into original content could be a game changer. we'll get to those trades in a minute. let's get to the top story right away. apple misses the rally. the dow closed at a one month high but the trouble continues for apple posting its worst day in nearly four years. the stock falling back into bear market territory weighing on the nasdaq throughout the entire session in terms of price action, terrible. pretty heavy volumes closing two pennies off the low of the session deep. >> it was terrible. i'm trying to be measured here because i understand how -- >> you don't want to insult apple. >> that's not what we're attempt to go do. we're trying to help them. last night to a person we thoug
CNBC
Dec 4, 2012 9:00pm EST
stronger. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. ♪ ha ha! [ticking] >> when steve jobs returned to apple in 1997, the company had just 5% of the computer market and was almost broke. when jobs died of cancer 14 years later, apple was the second most valuable corporation in the world. in his best-selling biography of jobs, walter isaacson writes that he revolutionized or reimagined seven industries. he did it, isaacson says, by standing at the crossroa
CNBC
Dec 12, 2012 11:00pm EST
oklahoma, jason. >> caller: hello, mr. cramer. booyah from oklahoma city. >> man, do we ever love oklahoma city. we love oklahoma. i miss it. let's get back down there and do another show. cannot get there sooner enough! go ahead. >> caller: planned asset sales completed by the first quarter of 2013 which will help its balance sheet. on the other hand, with the acquisition of chesapeake's foreign pipeline business, williams company is expanding its pipeline infrastructure. which of these companies do you think has a better outlook in 2013? >> i'm going to have to say williams. aubrey mcclennon said he was going to slim down his company. but he's not necessarily getting all the best prices. i think williams did well on this deal and i like williams very much. i should be recommending that stock more but i just don't like natural gas. that's why i've been such a demon about eog. let's go to sam in florida. sam. >> caller: good evening, dr. cramer. >> oh, thank you, sunshine. >> caller: booyah to my brother joel in queensbury, new york. >> marquess of queensbury. good fight last weekend. >> c
CNBC
Dec 12, 2012 4:00am EST
for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. >>> on the agenda for the united states, november import prices come out at 8:30 eastern. they're forecast to drop by a half percent. at 2:00 p.m. we'll get the monthly budget statement from the u.s. treasury. >>> a check of futures, a rally, looking at 46 points on the dow. a couple of points for the nasdaq and s&p 500 building on
CNBC
Dec 13, 2012 6:00am EST
city expecting a high of 45 today. mostly sunny in the ohio valley, into parts of the northeast. still scattered showers in parts of south florida getting very close to the record, the yearly record of rainfall in miami. as we wrap it up, from fargo and on the other side of the river, expect snow showers. still balmy, beautiful showers in dallas. mostly sunny and 65. back to you. >> reynolds, thanks so much. thanks for flag along. >> you bet, guys. >>> americans want action when it comes to the fiscal cliff. john, you'll give us some of the highlights, but with what we've told them about what will happen if we go over, i guess we shouldn't be too shocked that they don't want to go over. we've basically said there could be a recession, there could be millions of job losses and everything else. so i guess we probably shouldn't be surprised by that. >> no, we shouldn't. they've gotten the message. they've absorbed it. we've asked in the survey how serious a problem is the fiscal cliff? and you get 68% of the people saying it's a very serious problem, which tells you something when
CNBC
Dec 11, 2012 6:00am EST
colder. 30 degrees colder in jackson. still showers around boston and new york city. they'll be out of the way fairly quickly. our main story is florida. miami, naples, picking up showers and thunderstorms. a half dozen tornados across the south yesterday. we'll watch tampa, daytona be h beach, ft. myers. this is the spot for strongest storms to develop. the cold air, finally returning to deal for many. 50s in atlanta after our average hey hoob around 71 degrees. we're looking at generally average temps tomorrow. the return to average is what makes it feel so cold outside. i can say, guys, that as we head towards the end of the week, wintered is going to return. snow is going to start to return, as well. >> good. that was better than rain. >> i sense your ens tus amp. you're excited about this. >> i am. i know aspen got a foot yesterday. we don't want to waste it on rain. we had 20 inches over on the west coast. move that over. let's get some snow. even back here, we had 39 degrees and raining doesn't help anyone back here, does it? >> no. that's brutal stuff. for you guys. you're w
CNBC
Dec 7, 2012 9:00am EST
river. the whole river walk has been redone unlike anything anyone has seen in an american city. we're very excited about it. >> dan, thank you. thanks for the work you're doing. appreciate you joining us today. have great weekend, everybody. right now it's time for "squawk on the street." >> up 146,000, that's the jobs numbers for november. unemployment at 7.7. that's the lowest in exactly four years. good morning. welcome to "squawk on the street." i'm carlos gutierrez with jim cramer, david faber and melissa lee. questions remain about the internals. europe is reacting to a miss on german industrial production and some reports at least that some ecb members favored a rate cut yesterday. our road map will go like this. that puzzling jobs number beating virtually every wall street estimate as the labor department says sandy had only a minimal effect. is it true a clean number and what are conspiracy theorists saying. >>> a comment hastings made last july. what does it say about s.e.c. rules and whether they are out of date. >> mcdonald's will post same store sales on monday get
CNBC
Dec 10, 2012 7:00pm EST
gears briefly on the question of detroit city, its terrible finances, the likelihood that it's going into bankruptcy, some of the local politicians asked president obama to bail out detroit city. do you think a bail out like that's coming? >> i think we need detroit to accept responsibility. we need a healthy detroit. in michigan we want a healthy detroit. we need detroiters to accept responsibility. they are free to ask the president for more money. i can tell you there will not be more money coming from lansing. we need to get detroit fixed and move forward together. >> apparently mayor dave bing, the former basketball great and a good businessman before he was mayor says, and i will quote -- he blames the culture of victimization and entitlement for detroit's woes. i can write that large for the entire usa budget deficit but let's stick to detroit. is the mayor correct? >> i will leave mayor bing to stand for his own comments. i believe we need a healthy detroit and there is great opportunity in detroit just as there is opportunity all over the state. we are turning our state arou
CNBC
Dec 13, 2012 5:00pm EST
city's times square, i'm melissa lee. back from the brink. from b of a to yahoo! stocks, are suddenly the comeback kids of the fourth quarter. we're separating winners from losers. >>> plus, sell signal. if insiders are heading for the exits, should you be, too? >>> and we're talking real estate and the fiscal cliff with dolly lens. but first, let's get straight to our top story, and that is the haggling in washington, d.c. president obama's meeting with house speaker john boehner this hour. john, what should we expect? >> we expect the meeting to last something less than an hour between the speaker and the president of the united states. a republican leadership aide told me the meeting is taking place because a shakeup is required in budget talks, given the inflexibility of the white house. question is going to be, what is that shakeup? the speaker wants and republicans have been the demanding more details from the white house on potential cuts and entitlement programs. the white house has shown no willingness to go further than they've already gone and they are winning this argument
CNBC
Dec 10, 2012 5:00pm EST
explosive jpmorgan, citi, i like that. >> let's talk about hewlett-packard. unconfirmed report that carl icon may have an interest in the company. are shares are down 44%. so, could this be a turn around for the stock? now, david reported earlier today that the company is not aware, if icahn is in the stock. they have no knowledge. it sounds like perhaps this could be just a trading rumor that is sort of out there. these rumors have been out there for a long time. an activist, like maybe a ralph whitworth woucould push for cha. >> we've gotten to know carl over the years, this seems to be right up his alley. i would say, where there's smoke, there's fire. is it a katkatalyst? potentially one of the many we've spoken about. the biggest is that november 20th. two back to me, that was a bottom. we talked about it in the ensuing days. the stock has traded really well sense on what's been a flat take. i think that's interesting. there are other reasons to own it. the company might be broken. the stock is actually interesting. >> there you see the marker where the autonomy alleged fraud story
CNBC
Dec 4, 2012 7:00pm EST
. you have the customers of the ports and the city saying fix this. when it comes to the president in this economy. we are 8 days in and he hasn't started the process of reconvening the board. >> the board is already so pro union as is the president fresh off his re-election even though this is not going to be a california emergency, this could be a national emergency for closing down those huge ports. that is it for tonight's show. thank you for watching. we will see you tomorrow night we need premarket capitalism. not a union hold up. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. it's no wonder so many investors are saying... when you take a closer look... ...at the best schools in
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